Due to the scarcity of reliable data, the existing literature on default risk still displays an imbalance between theoretical and empirical contributions. Consequently, the focus of this book is on empirical work. Within an intensity based modelling framework a broad range of promising...

This study tested the efficiency of the Black-Scholes Options model for suitability in determining contract prices of palm-oil futures in Nigeria's physical market. The effects of the constant volatility and efficient market assumptions of the mode l was examined for a seasonal commodity in an...